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2. Federal Grants May Result in More Rail Options for North Carolina
This is big news when it comes to the impact on growth and real estate development strategies. According to a recent article, featured in Axios Charlotte, North Carolina is receiving a $1.09 billion dollar federal grant, the largest ever received by the North Carolina Department of Transportation (NCDOT), toward the S-Line, a passenger rail line from Raleigh to Virginia. Additional dollars will be allocated to plan and develop rail corridors between other cities, including “high-speed” rail linking Charlotte and Atlanta. Other corridors to be studies and planned are those between the following cities:
For additional details, read the full article here: Mega federal investments will revolutionize passenger rail out of Charlotte
My take: This is great news! I can see this having a positive outcome for our region and state as more folks will be able to get from where they are to where they need to be, potentially faster, and in a much more efficient manner. My only word of caution would be to keep in mind the big picture. High speed rail is powered by electricity. Standard train engines typically run on diesel fuel. Let’s figure out how we’re going to power all of these things, including increased use of electric vehicles and heating and cooling our homes. The more the current Administration chips away at historic energy sources such as coal and goes further on to the extreme practice of limiting the use of natural gas and obliterating energy producing dams, it makes it that much harder to make up the difference. The private sector should be unleashed to innovate and lead the way on the development of new energy sources, not stifled by unnecessary regulations.
Rob Nanfelt